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Latest Business News: Bullard: Fed Should Hold Press Conference at Every Meeting

Wochit 0:55 mins

James Bullard, A senior Federal Reserve official, said that the U.S. central bank's current practice of holding quarterly press conferences could be distorting policy decisions, and urged the Fed to stage one after every meeting to ensure a smooth process. Data from a Bank of America Merrill Lynch Global Research report showed Bond funds worldwide suffered outflows of $1.6 billion in the latest week as investors awaited signs from the Federal Reserve regarding its bond-buying stimulus. U.S. employers added 162,000 jobs in July, the fewest since March. The gains were enough to lower the unemployment rate to a 4? -year low of 7.4 percent, a good sign in an otherwise lackluster report.

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